Gas & electicity for the next 8 months bought by council
Slough Borough Council in the South East of England will buy 100% of its estimated energy consumtion until March 2023 in advance.
Previously this year, the local authority could see its energy bills soar by an additional £3m as a result of the rising energy prices and the Russian invasion of Ukraine.
In a ‘Cabinet urgency procedure’ discussion, the council has made the choice to buy energy for its buildings and services for the remainder of 2022/23 to limit its exposure to rising wholesale energy prices.
The authority’s general fund budget for this financial year period is £2.4m, but it predicts that “the ongoing fluctuation in the market now means that there is an in-year pressure of £1m”.
“To further limit the exposure to all funds, officers are now recommending with advice from the council’s brokers eEnergy, that the remaining energy is purchased for August 2022 to the end of the financial year.” In a report, Slough Borough Council implies.
The council is also examining proposals to cut gas and electricity consumption thoughout its assets.
Gas & electicity for the next 8 months bought by council
